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Exhibit 11.1:   Statement re:  Computation of Per Share Earnings.

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<CAPTION>
                                                     Three Months Ended
                                                           March 31,
                                                  
                                                      1997          1996
<S>                                               <C>            <C>        
Primary:                                                         
  Average shares outstanding                        7,993,947      7,993,947
  Net effect of dilutive stock options -- based                  
      on the treasury stock method using                         
      average market price                          1,897,633        586,232
Total common and common stock                                    
      equivalents                                   9,891,580      8,580,179
Net income attributable to                                       
      common shareholders                         $   753,000    $   190,000
                                                                 
Per share amount                                  $     .0761    $     .0221
                                                                 
Fully diluted                                                    
   Average shares outstanding                       7,993,947      7,993,947
   Net effect of dilutive stock options --                       
       based on the treasure stock method using                  
       period-end market price, if higher than                   
       average market price                         1,897,633        637,840
Assumed conversion of Class A convertible                        
      Preferred Stock                               1,092,000      1,092,000
Total                                              10,983,580      9,723,787
Net Income                                        $   791,000    $   213,000
Per share amount                                  $     .0722    $     .0219
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